Myspace has become Deadspace, a virtual ghost town if you will. Over the last few years rival networks like Facebook and Twitter have evolved into the socially accepted platforms for todays internet users.
With Specific Media's buyout today of the once mega giant for a mere $35 million we can all learn a valuable lesson that man has know for years.
To survive you must adapt. Evolution has always been the key to mans success in life.
TechCrunch reports that in a chat with TV host Jimmy Fallon at the NExTWORK conference former Facebook Presdient and founder of Napster Sean Parker cites Myspace's demise. "[MySpace failed] to execute the product development," he told Fallon. "They weren't successful in iterating and evolving the product enough, it was basically this junk heap of bad design that persisted for many, many years. There was a period of time where if they had just copied Facebook rapidly, I think they would have been Facebook. The network effects, the scale effects were enormous. There was so much power there." Parker himself knows this lesson to well after succesfully helping evolve music today with Napster.
With the internet growinghas rapidly as it has new ideas and better ways to improve are a must. In order to stay on the cutting edge you have to live on the cutting edge. I heard through various reports that Rupert Murdoch doesn't even use email and has trouble handling a cell phone. If this is true how can anyone, even a billionare like Murdoch, justify spending over a half billion dollars on a company he doesn't even use the services of? Its no wonder the company failed due to the owners lack of ambition and know how on social networking. Another lesson learned the hard way I guess.
